1. Depicting Europe, an insightful piece by Perry Anderson, thanks to Dainius for the pointer
2. Virginia Postrel’s Atlantic Monthly column archives, on culture and commerce
3. Profile of Raj Chetty, young Berkeley economics star
by Tyler Cowen on September 13, 2007 at 8:13 am in Web/Tech | Permalink
1. Depicting Europe, an insightful piece by Perry Anderson, thanks to Dainius for the pointer
2. Virginia Postrel’s Atlantic Monthly column archives, on culture and commerce
3. Profile of Raj Chetty, young Berkeley economics star
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On Chetty:
“Akerlof says. “Raj emphasized that they (unemployed workers) find it very difficult to meet their prior commitments. For example, they must pay their rent or their mortgage, and these commitments very much add to the difficulties of being unemployed. Economists were just not thinking of that until Raj came up with it. This is a very big innovation in the theory of unemployment.†
I am not sure whether this says strongly positive things about Chetty or strongly negative things about economists. What, people have to pay rent? Really?
Thanks, the typo is ocrrected…
Akerlof’s quoted comment was clearly an over-simplification. It was a paper about non-concavities in risk preferences and explored issues like why people play the lottery but buy insurance. Hard to distill into a simple sentence.
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